While the price of energy imports has risen dramatically across the world, experts say some Asian economies have been hit hardest. 9News
With the United States and many of its allies sanctioning Russian oil and gas, many countries have been left scrambling to find alternative sources - heating up the competition for limited supplies even further.
"If you're a country, especially an emerging economy like a Sri Lanka that has to buy those commodities, has to buy oil, has to buy natural gas, this is a real struggle," said Mark Zandi, chief economist at Moody's Analytics. "So Pakistan certainly fits there. Sri Lanka I think fits there as well," he said. "They're taking the price hit but they're also taking the supply hit. They have to pay more for their energy supplies and in some countries like Pakistan, they actually have a hard time sourcing energy."This dynamic is behind the increasingly chaotic scenes playing out in those countries.before the country ran out of fuel.
An elderly woman sits outside a police station in a protest demanding cooking gas in Colombo, Sri Lanka.
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